Bally’s (NYSE:BALY) Price Target Raised to $18.00

Bally’s (NYSE:BALY) had its target price boosted by Truist Financial from $13.00 to $18.00 in a research note issued to investors on Friday, MarketBeat reports. The firm currently has a hold rating on the stock.

A number of other equities research analysts have also recently weighed in on BALY. Wall Street Zen upgraded shares of Bally’s from a “sell” rating to a “hold” rating in a research note on Sunday, September 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Bally’s in a research report on Thursday, October 30th. Barclays reduced their price target on shares of Bally’s from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 13th. Macquarie lowered their price objective on shares of Bally’s from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 12th. Finally, Stifel Nicolaus boosted their target price on Bally’s from $10.00 to $20.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $16.50.

Bally’s Stock Performance

BALY opened at $17.29 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 7.13. The business’s 50 day moving average is $14.03 and its 200-day moving average is $11.51. The stock has a market cap of $849.83 million, a PE ratio of -3.34 and a beta of 2.00. Bally’s has a twelve month low of $8.45 and a twelve month high of $23.20.

Bally’s (NYSE:BALY) last posted its earnings results on Wednesday, November 12th. The company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.99). The business had revenue of $210.25 million during the quarter, compared to analyst estimates of $668.49 million. Bally’s had a negative net margin of 17.41% and a negative return on equity of 63.71%. On average, analysts predict that Bally’s will post -7.26 earnings per share for the current year.

Institutional Trading of Bally’s

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC bought a new stake in Bally’s during the second quarter worth approximately $867,000. Wolverine Asset Management LLC lifted its position in shares of Bally’s by 35.8% during the 2nd quarter. Wolverine Asset Management LLC now owns 16,468 shares of the company’s stock valued at $158,000 after acquiring an additional 4,345 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Bally’s by 113.1% during the 2nd quarter. Geode Capital Management LLC now owns 164,555 shares of the company’s stock worth $1,577,000 after acquiring an additional 87,346 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Bally’s during the 2nd quarter worth $33,000. Finally, Crossingbridge Advisors LLC acquired a new position in shares of Bally’s in the 2nd quarter worth $240,000. 70.41% of the stock is owned by institutional investors and hedge funds.

Bally’s Company Profile

Bally’s Corp. is a global casino-entertainment company with a portfolio of casinos and resorts and online gaming businesses. It operates through the following segments: Casinos & Resorts, International Interactive, and North America Interactive. The Casinos & Resorts segment consists of the company’s casino and resort properties, a horse racetrack, and a golf course.